Airbnb

Dominic

DA
Staff member
Anyone here run a airbnb or vrbo? Has it been profitable?
 
I have two pals that got into this business. One of them lost his time and some money and the other one is doing it the right way and is making enough money to allow himself to be a consultant part time.
 
I have two pals that got into this business. One of them lost his time and some money and the other one is doing it the right way and is making enough money to allow himself to be a consultant part time.
Locations of each? Friend has five. All in Big Bear. Made a killing DURING the Scamdemic. Not doing so well now.
 
Locations of each? Friend has five. All in Big Bear. Made a killing DURING the Scamdemic. Not doing so well now.

hearing Similar stories , bookings way dowN( some blaming it on new algorithm)

I wonder how leveraged people are

also hearing some host putting stuff for sale on market
 
Locations of each? Friend has five. All in Big Bear. Made a killing DURING the Scamdemic. Not doing so well now.
Beach Cities. No one is buying a house at 7%. Rent is insane now and by the time you show up to introduce your family and dog and cat, the place is rented out for over the rent price. What some wise guys are doing are turning around and renting double bed room. Yup, I found a place in San Clemente that has 4 rooms and 8 people. Hostel way of life for single Pros and people are down with it. Week max at $300x2=$600 a weekx4= $2400 a month for a freaking small room. Times that by the four rooms and your making over $10K a month because the master gets more. Same place before the Rona was $2700 a month. place is a dump and landlord torl them he will now fix the plumbing, fence, roof and landscaping. Old part of SC. Irvine is insane. My pals son goes to UCI and they rent out 4 people to a room like the dorm days. Add it up man. My son goes to SDSU and his life expenses has doubled since Covid 19. Had to pay full rate for virtual school for 18 months. This is is getting crazy now Bruddah IZ and I'm so glad to hear from you on this incredible day for our great country.
 
hearing Similar stories , bookings way dowN( some blaming it on new algorithm)

I wonder how leveraged people are

also hearing some host putting stuff for sale on market
Our friend is heavily leveraged so they'll be alright worse case scenario.
 
My kids (one an ex SoCal soccer player) stared investing in real estate. They do med term - 1m to 6 months. The AirBNB too tough with many rules.
Daughter has several properties Willett House
 
Locations of each? Friend has five. All in Big Bear. Made a killing DURING the Scamdemic. Not doing so well now.
I'm hearing similar stories. Also hearing that renters are trashing units and owners are pulling out.

Heres a tip for those fortunate enough to be able to invest in real-estate. I've seen the renovation plans for the main lodge at Mammoth. Think Vail/Aspen of the west coast. Not sure when but it's happening. Property values will more then likely go up more closer to Main lodge.
 
Anyone here run a airbnb or vrbo? Has it been profitable?
Airbnb and VRBO in Big Bear were very profitable for 2020 and 2021. Less so in 2022. I'm sure Airbnb changed their algorithm, but they deny it. But also, there is probably much more supply 2022, because so many people were putting cabins into service while they were making so much money in the 2020 & 2021 timeframe.
People who bought their Airbnb cabins in 2022 are probably getting killed, because the higher prices on cabins meant higher mortgage and property taxes, and then the Airbnb algorithm change, plus the increased competition is making it harder and harder to keep cabins filled.
 
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